Despite the relief bounce across the crypto market with the likes of BTC, ETH, and OP, surging high, Near Protocol has struggled to break out.<\/p>\n
Near is one of the many blockchain solutions with good use cases trying to provide solutions to Ethereum scalability, bridging, and contributing to the DeFi space.<\/p>\n
Near has struggled to break above its ranging channel despite being a favored coin in the crypto space.<\/p>\n
NEAR Weekly Chart<\/p>\n
After reaching its All time high (ATH) of $20.1 in January 2022, Near had struggled with its downtrend when the market became bearish, with major coins falling by 80%.<\/p>\n
Near its ATH of $20.15, it has fallen by over 75% to a region of $3.0. As of writing, NEAR is trading at $4.2, close to a major resistance before it breaks to the upside.<\/p>\n
NEAR Weekly Chart Analysis | Source: NEARUSDT On Tradingview.com<\/p>\n
The weekly chart for NEAR shows it is facing major resistance of $4.73 after a reversal from the low of $3.0<\/p>\n
Breaking out of this resistance would send the price of NEAR to a region of $6.4 \u2013 $7<\/p>\n
Weekly resistance \u2013 $4.73<\/p>\n
Weekly support \u2013 $3.0<\/p>\n
ATH \u2013 $20.1<\/p>\n
Daily Chart Analysis Of NEAR\u00a0
\nNEAR Price Analysis On The Daily Timeframe | Source: NEARUSDT On Tradingview.com<\/p>\n
Major support level on the daily chart (1D) \u2013 $3, $1.8<\/p>\n
Major resistance on the daily chart (1D) \u2013 $4.72<\/p>\n
NEAR on the daily chart shows not much buying or selling activity, just in a range or channel that needs to be broken to the upside or downside.<\/p>\n
The volume on the 1D\u00a0 chart shows less buying and selling with the relative strength index (RSI) above the 50 mark area.<\/p>\n
If the bulls can step in and push NEAR to the upside, then the range at which NEAR is trading will be broken, sending the price to $6.0<\/p>\n
If the price of Near is broken to the downside by bears, $3 \u2013 $2.8 are acting as strong support that has held NEAR throughout the downtrend and can be seen as a major support area.<\/p>\n
For investors applying a dollar cost average strategy, this could be a good accumulation level. Dollar Cost averaging is a strategy employed to buy crypto assets with a sum of money in bits over time or a strategy used to buy crypto assets at market levels as the assets make reversals.<\/p>\n
NEAR Price On The 4H Chart
\nNEAR Price Analysis On The 4H Chart | Source: NEARUSDT On Tradingview.com<\/p>\n
On the 4H chart, NEAR looks similar to the chart on the 1D timeframe, just ranging and trying to break above the resistance region. NEAR, in general, looks good based on a fundamental crypto market analysis. <\/p>\n
With current market conditions, it will be worth accumulating for the bull run as it has so much potential for the upside.<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Despite the relief bounce across the crypto market with the likes of BTC, ETH, and OP, surging high, Near Protocol has struggled to break out.<\/p>\n
Near is one of the many blockchain solutions with good use cases trying to provide solutions to Ethereum scalability, bridging, and contributing to the DeFi space.<\/p>\n
Near has struggled to break above its ranging channel despite being a favored coin in the crypto space.<\/p>\n
NEAR Weekly Chart<\/p>\n
After reaching its All time high (ATH) of $20.1 in January 2022, Near had struggled with its downtrend when the market became bearish, with major coins falling by 80%.<\/p>\n
Near its ATH of $20.15, it has fallen by over 75% to a region of $3.0. As of writing, NEAR is trading at $4.2, close to a major resistance before it breaks to the upside.<\/p>\n
NEAR Weekly Chart Analysis | Source: NEARUSDT On Tradingview.com<\/p>\n
The weekly chart for NEAR shows it is facing major resistance of $4.73 after a reversal from the low of $3.0<\/p>\n
Breaking out of this resistance would send the price of NEAR to a region of $6.4 \u2013 $7<\/p>\n
Weekly resistance \u2013 $4.73<\/p>\n
Weekly support \u2013 $3.0<\/p>\n
ATH \u2013 $20.1<\/p>\n
Daily Chart Analysis Of NEAR\u00a0
\nNEAR Price Analysis On The Daily Timeframe | Source: NEARUSDT On Tradingview.com<\/p>\n
Major support level on the daily chart (1D) \u2013 $3, $1.8<\/p>\n
Major resistance on the daily chart (1D) \u2013 $4.72<\/p>\n
NEAR on the daily chart shows not much buying or selling activity, just in a range or channel that needs to be broken to the upside or downside.<\/p>\n
The volume on the 1D\u00a0 chart shows less buying and selling with the relative strength index (RSI) above the 50 mark area.<\/p>\n
If the bulls can step in and push NEAR to the upside, then the range at which NEAR is trading will be broken, sending the price to $6.0<\/p>\n
If the price of Near is broken to the downside by bears, $3 \u2013 $2.8 are acting as strong support that has held NEAR throughout the downtrend and can be seen as a major support area.<\/p>\n
For investors applying a dollar cost average strategy, this could be a good accumulation level. Dollar Cost averaging is a strategy employed to buy crypto assets with a sum of money in bits over time or a strategy used to buy crypto assets at market levels as the assets make reversals.<\/p>\n
NEAR Price On The 4H Chart
\nNEAR Price Analysis On The 4H Chart | Source: NEARUSDT On Tradingview.com<\/p>\n
On the 4H chart, NEAR looks similar to the chart on the 1D timeframe, just ranging and trying to break above the resistance region. NEAR, in general, looks good based on a fundamental crypto market analysis. <\/p>\n
With current market conditions, it will be worth accumulating for the bull run as it has so much potential for the upside.<\/p>\n
<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-4682","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/4682","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=4682"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/4682\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=4682"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=4682"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=4682"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}